Is a paid actuary involved in determining the future returns and solvency of the pension plan?

April 26, 2017actuary determining future involved paid pension plan returns solvency

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Is a paid actuary involved in determining the future returns and solvency of the pension plan?

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Yes, the City currently uses Milliman, Inc., an international actuarial and consulting firm based in Seattle, as the actuary for the Police/Fire Pension System.

What are the fees involved, and when are they paid? There is an annual default insurance premium, isn there?
What factors will generally be considered by the actuary in determining my OPEB liability?
What are the timetables involved in future predictions?